Finally on Christmas Eve, it came – the official announcement of British billionaire Sir Jim Ratcliffe’s investment into Man United for a 25% minority stake.
British billionaire Sir Jim Ratcliffe of Ineos Group fame has already succeeded in doing something the Glazers had obstinately refused to do during their 18-year tenure – to reach out and communicate with Manchester United fans.
After 13 months of protracted takeover talks, the confirmation of Ratcliffe’s acquisition of a minority stake at Old Trafford finally was announced on Christmas Eve. This was the perfect present for United supporters as, despite it being a 25 per cent stake to begin with, it is still one that allows the British billionaire and his management heads to have control of football operations at the Old Trafford club.
Ratcliffe has forked out around £1.25 billion for this first phase investment in the club and his INEOS Group will be delegated responsibility for the management of football operations across the men’s, women’s, and academy teams.
The 71-year-old tycoon has clearly made known his intentions to employ some of the industry’s leading brains to hold counsel in boardroom roles and making sensible executive decisions – whilst managing prudent spending in the transfer market – that will create solid opportunities for United to regain their glories of early decades.
Realistically this should all bode a brighter future lies ahead for the Old Trafford club, albeit there being still mixed feelings among supporters during the announcement because of the concern amongs some regarding an ongoing role for the Glazers.
The Manchester United Supporters Trust relayed those concerns and, to his credit, Ratcliffe immediately responded by writing a letter, one claimed to be written by the hands-on billionaire himself, with absolutely no help from his communications team, apparently.
“I wanted to write to you at this time given the critical role of the fans to the future of Manchester United as we recognize our responsibility as custodians of the club on your behalf,” Ratcliffe wrote.
“I believe we can bring sporting success on the pitch to complement the undoubted commercial success the club has enjoyed.
“It will require time and patience alongside rigor and the highest level of professional management. You are ambitious for Manchester United and so are we.
“There are no guarantees in sport and change can inevitably take time, but we are in it for the long-term and together we want to help take Manchester United back to where the club belongs, at the very top of English, European and world football.
“I take that responsibility very seriously. Please note that, as with any deal, it is subject to the usual regulatory sign-off process and, therefore, we do not expect to speak publicly about club matters until after the [minority takeover] deal has completed.”
Ratcliffe’s deal still needs to be ratified and signed off by the Premier League, which can take between six to eight weeks, but this has not stopped him from already opening dialogue with supporters.
In comparison, the Glazers are still appearing to keep fans at arm’s length and hold them in contempt, having only spoken when absolutely necessary. The American owners have unsurprisingly refused to update supporters throughout the takeover talks.
The popular thought is that Ratcliffe will commit $300m (£245m) from his own multi-million-pound fortune to address the club’s ageing infrastructure and that’s additional investment alongside his bid for a 25 per cent stake.
He had previously hinted that addressing footballing matters would be his key priority, but his pledge will please supporters who questioned whether he would invest in redeveloping Old Trafford.
It certainly looks like Sir Jim Ratcliffe has made a good first impression. Let’s hope that long may it continue.